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Growing deforestation leading to global warming has spurred the demand for efficient timber usage, which is in turn driving the global wood-based panels market, according to “Wood Based Panel Market—Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019,” a new market research report. Technological advancements and increased efficiency in manufacturing of wood-based panels are expected to bolster demand. On the other hand, rapid increases in the cost of petroleum-based fuels and products continue to escalate the production and marketing costs of wood-based panel products, in turn hindering the market’s growth.
Anticipated changes in incorporating newer definitions of structural-use panels by the American Plywood Association is expected to bolster the demand for wood-based panels in North and South America. Rapid industrialization and modernization in infrastructure in the developing economies of the Asia-Pacific region is expected to be a key market driver for the wood-based panel industry over the forecast period.
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